This month’s monetary policy committee meeting glared out for being at odds with ground realities
Never mind that measures such as expanding the universe of securities under the Fully Accessible Route, removing limits on short-term investment, concentration and individual securities for portfolio investment, opening the door for equity investments to individuals beyond non-resident Indians (NRIs), incentivizing external commercial borrowings and NRI deposits with the hedging cost borne by RBI/government, etc, will only encourage more hot money flows.
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